PRINTIQ TARGETS GROWTH WITH INVESTOR

Anthony Lew, CEO of print industry MIS and W2P developer printIQ, has sold the business to a major software  investor, Banyan Software, as the company looks at the next stage in its growth trajectory. Lew will remain with the company as CEO, along with his 55 staff.

Banyan Software was created six years ago to provide a permanent home for successful enterprise software companies, their employees, and customers. With a permanent capital base set up to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies.

Lew established printIQ in the year 2000, with the motto 'More than MIS' and since then has achieved global success in a fiercely competitive market. He says, “After 22 years of building the business and the printIQ product, it became obvious that I needed a partner to help us invest in growth and take the product to the next level. The team and I have achieved some impressive results over the years, including transitioning the business to be a global company, operating in six countries.”

Becoming part of Banyan will provide printIQ with the support of bring in a group with 25 other software developers, and centralised functions such as comms, HR and legals

Lew said, “While we are very proud of what we have built, it’s been born out of hard work, long hours and of late, amidst a global pandemic. In the last 12 months, we have transitioned the sales and marketing functions of the business to the US and UK, we have improved the way we deliver our product, and we have grown the business and our customer base which has in turn opened up many new opportunities and challenges.

“For these reasons and many more, I have partnered with Banyan Software who have acquired the IQ business. The move is focused on investing in growth to build the business and unlocking more of the potential that we have achieved to date.”

From a business, product, staff and customer perspective, everything remains the same. Lew remains at the helm in his role as CEO, with the same team, and the same approach to customer service, support and product development.

Lew said, “It’s an exciting time as I already see many of the benefits of partnering with a long-term investment focused software company, and simply having a bigger company behind us. My goal is to continue building the product, extending our reach into new markets and segments, and also improving the way we listen, partner with and support our existing customers.

printIQ operates in Australia, New Zealand, North America and Europe. It has been particuarly successful inthe US and UK. Lew said, "Our products have always been forward focused."

Founded in 2016, Banyan is backed by a group of CEOs and investors with deep technology experience and currently operates across a growing number of verticals.